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fire damage to the battery of the auxiliary power unit. remember, the auxiliary power unit is what is used to provide power to an airplane when it is parked on the tarmac, not while it's in flight so the battery unit, severe fire kagge there, and it's pretty clear, scott and maria, that we are going to see more airlines, if they haven't already, they are going to start checking their wiring on the battery unit. i just spoke with the folks out of ana in japan. they have a number of dreamliners, checked theirs overnight at the urging of the ministry of transportation in j.i just talked with united airlines. it has checked the battery power wiring on all of its dreamliners, all six of them. the "wall street journal" reports that one of them did not have the wiring done properly, so that's clearly where the investigation is headed regarding those dreamliners and the fire we saw yesterday in boston. back to you. >> thanks. certainly will continue watching that story. boeing a dreadful couple of days as a result of this and traded already more than two times its average daily volume as a
building materials, not only in the united states but over in asia, you'll have competition for those goods and a monetary policy that's flooding the system with currenty. >> steve sax, your best investment idea right now? >> i think sector-wise, i hate to do it, but i have to agree on tech. i think it's an area that obviously had good performance in 2012. we think that continues, although the first couple of years have been a little rough. look at the other sector you know, that have performed well late last year, financials, and then we're seeing, you know, industrials and materials pick up this year as well. consumer discretionary which we touched on is an area that i would take a look at. it's been tough to make money shorting the american consumer over the long term and the pickup in the consumer discretionary secretary ore probably continues, at least the first half of this year. >> carol, you told us what you don't like. restaurants. what do you like? >> and for how long? >> so i love the multi-level marketers that everybody else seems to hate and fair disclosure here. i've got a pos
network in the united states, 60 dealers and we're here in new york for the ims motorcycle show and several new dealers coming on board just in the area around here coming up as prospects. really starting to take off. >> i'm going to get on it just to show people as a tall guy. it's not like a little scooter, not a vespa or electric thing, a real, meaty bike. >> a real bike. >> we built it for you, brian. thought about you. had you in mind. >> i'm going to take off. >> thanks so much for coming in. thanks for watching "street signs" as well. guys. "closing bell" is next. >>> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. >> all feeling good. i'm bill griffith. good economic news trumped a mix bag of bank earnings which we'll get to, but we're off to the races right now. show you the numbers in a moment here. >> just ahead, huge interviews here on the "closing bell." stay with us. two ceos and two financial giants. john stumpf will be are here and ebay ceo john donahoe. >> best earnings ever. the dow u
with senator mitch mcconnell. if the president of the united states wants to talk about tax increases, look it up in the history books because it's not coming during 1913th session of the united states congress. >> how significant are the spending cuts that you're talking about? what would it take to get to you raise the debt ceiling? >> two things that would have to occur, either one of which would cause me to raise the debt ceiling, one is a balanced budget constitutional amendment phased in over a period of time that would force washington to deal with this issue in a serious way. and the alternative, there would have to be spending cuts, real spending cuts, first year in excess of $100 billion. >> 100 billion. okay. constitutional amendment in a long time. jim newsel, you called the fiscal cliff deal to this point a fiasco. what had your high expectations for what's to come on the spending and the debt limit that they have to deal with in the next couple of months? >> i don't have very high expectations. >> i didn't think so. >> i mean, i think at this point in time we're seeing history
your call? >> i think the biggest driving force is that the growth rate not only in the united states but around the globe is turning out to be better than expected. we came into this year expecting 2% growth for the united states. i really think we'll end up closer to three. china is coming back to life. europe is calming down. we've got a lot of positive economic momentum. and in addition to that, you got confidence at five-year highs and people are starting to settle down and think maybe this is going to be a multiple year recovery so they can increase their valuations on the earnings streams. we're seeing mobiles rise. a lot of good things. starting to see people come back into the equity markets a little bit finally reaching all-time record highs. i think a lot of these forces will take us higher this year. >> okay. i don't know who is directing, liz, dan. if you could show me the 4 box again i'll take a poll of our guests. how many see 1700 on the s&p? raise your hand. anybody? >> by when? >> anybody? glazer is sitting on his hands there. no, larry? you don't see that? >> you kn
and still the fact that if you look at median incomes in the united states, if you look at per capita household incomes in the united states, if you look at household wealth in the united states, we are nowhere back to where we were in 2007. therefore the economy cannot generate the kind of consumption it generated in 2007. >> we're forgetting one other factor which is regulation. >> yep. >> bank regulators is one example. the small businesses i work with at the highland consumer fund have trouble getting capital. one of the reasons is despite the rhetoric from washington, the bank regulators have put in so much spending restrictions so that my small businesses who want to add jobs can't do so because they can't get the capital. >> i completely agree on that. >> we're very focused on regulations as well. >> i completely agree on the small business capital market conditions. this has been a big, big problem. it's one of the reasons the recession was so deep and one of the reasons the recovery is so slow. i agree with that. but i really want to point out, why is it so difficult to get a
want -- we are an 80-year-old company. we still maintain 70% of the manufacturing in the united states. if i was looking week to week we'd be out of business. we have now about 70 locations in china. we are shipping 60% of the product from the united states. >> which is very counter to what other companies do. >> absolutely, yeah. in fact, you have to do counter to others to survive. we have been thinking long term about our people, about our manufacturing, about things that we need to do. now this issue that we're just talking about, we talked about dividends, it was a short-term issue. we paid a relatively, relatively smaller amount. we didn't borrow money. we had the cash, and we said, as some of them, our shareholders, came to me and said why should we not do it? i'm a share herald, too. if you're a shareholder you have a different perspective han if you're not. >> respond to critics who say you greedy, greed people. you wanted to keep more of that money and the country needs you to pay more in taxes. you shouldn't have done that. i don't say that, but you know people are saying th
in the united states from 1950 through 1999, the average growth was 3.6%, something like that annualized. since then it's been less than 2%. now, there's been a little bit of a perk up, but -- but the direction is positive, and if you start looking at how the businesses and the economy is doing and juxtapose that against the politicians who aren't behaving very well, you have to be positive regarding the situation for the future stocks. >> so you like stocks more for the fundamentals than you do for any fed or congressional action right now. am i reading that right? >> absolutely, absolutely. i mean, for the third quarter of last year our stocks had earnings of over 6% which compares very favorable, and, you know, we're looking into the future and then we compare that to the general growth rates of the u.s. economy, and there's no question they are going to outperform so it has an impact. >> the imf lowered global growth numbers today, nobody seems to care because the money has to go some place and it's not going into the bond market. >> point well taken. in the past you talked about gold. >> w
didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. >>> welcome back. just joining us. had a rally today. stocks sharply higher across the board with about 45 minutes left in the trading session. the dow is up 237 points. what did we say, kelly, the high of the day was a 277-point gain. >> right. >> nasdaq even stronger. technology has been the leader to the upside today, and the s&p is up 27 points at 1453. >> that's right. well, the market likes washington's tax deal, but does pimco's bill gross? after all, it does little to nothing to address debt and deficit levels, and that could eventually impact bonds in a big way. bill joins us now from pimco headquarters in california, and, bill, your reaction? >> welcome back, sir. >> thank you very much. thanks for having me. well, kelly, you know, i think that this rally is really a rally emanating from japan and actually from the fed in terms of its new qe policies.
is a reacceleration of global growth. not only global growth but also here in the united states. i mean, we're still at stall speed when it comes to the u.s. economy. 1% to 1.5% of economic growth. so you're going to have to see a stronger housing market you'll have to see a stronger real estate market as well and auto sales. and you'll have to see global trend and global trade start to pick up in order to push the market multiples higher. so our expectation for s&p target for the 2013 is roughly about 1550 to 1575. that's based off earnings of 105 for the s&p. >> interesting. that's not -- there are some people who have come on the air whether it's jeremy siegel or others who say you're going to get multiple expansion this year and you're going to hit all-time highs for the markets. and obviously we're not that far away from a dow standpoint. >> look. i mean -- >> i don't think bernanke is going to take his foot off the accelerator when we're sitting at a triple top here and allow the markets. i think he watches charts as well. as well as the rest of the market. so i don't think he's going to all o
are a lot better than they are in the united states is clearly important, but most of all making sure that you're taking in risk in line with what you can afford to take and not taking too much and not too little but really controlling it throughout the year. >> steve. is it possible that the beige report that we get today is sort of ancient history because things are becoming clearer now as far as the fiscal policy of the united states. we still have the debt crisis coming in a couple of months here to be resolved, but, you know, things do seem to be getting better. we've had some companies say that the housing market is for real right now, for example. >> yeah. i guess there's two different ways to think about it, bill. ancient history or crystal ball telling our future. i mean, when i read these comments, i see them very much as some of them seem to have come before the fiscal cliff deal was made but the other stuff comes in. there's some of the comments up on your screen there from the individual banks. i think that two things. i think, obviously, going over or hitting the debt ce
economy in the united states. europe has pulled back from the headlines, at least for the last couple of months and china has really begun to show a soft landing so the global economy is doing much better than we would have thought six months ago, four years ago, and i think the markets are pricing that in so the fundamentals in the economy are improving gradually, but they are improving and corporate america looks in very healthy shape. >> i wonder if it's actually a reaction to fundamentals. lee, we know that there's a ton of money around on the sidelines from corporates as well as the federal reserve making this interest rate environment so attractive and really few alternatives. is it really a function of the global economy, or is it more a function of this money that needs to find a place to go and u.s. equities seems to be best looking game in town? >> well, you know, i do think it's a lill bit of the latter. when you start looking at the velocity of the money, not trying to get too into the financial jargon, but we do have an issue where people are still seeking out safe money.
don't know how you stimulate it by continuing to just devalue the united states currency. >> let me stop you there, jeff, because that hasn't happened. >> yes, it has. >> by what measure? >> if you look at the dxy, down 11% since qe started. >> okay. if that was also part -- if you read all. fed's and all of ben bernanke's literature on how to attack deflation and reflate, part of it is gently devaluing the dollar. competitive devaluations going around the world where all the central banks of major nations or blocs are also easing at the same time, so devaluation is a relative term. 1917 was a much, much bigger devaluation than anything we've seen recently. >> one indicator here, the price of gold. >> going nowhere. >> on a tear for the last 12 years. why is that not a signal that inflation is on the way? >> i was having the conversation with someone very prominent in the commodity markets yesterday. if the gold market were truly frightened of some sort of runaway inflation, hyperinflation as the peter schiffs of the world and others suggest it would be at 5,000 already, got to 1,90
opposite take place, seeing a lot of the big mega countries in japan and the united states and europe cutting their rates so that perhaps they can sell to that new consumer which is in the emerging nations. kind of ironic that that's taking place. >> definitely is. gentlemen, thank you very much. we'll see you soon. >> you're welcome. >> amson, the company to watch in the extended hours tonight getting set to report earnings right after the bell. let's get to jon fortt with the one number investors need to zero in on. that's that number in. >> i hate to say revenue is the number to watch because it feels like cheating, but with amazon it's really true, trading at ten times revenue. it will either make a tiny profit this quarter or no profit at all. the bullish story behind the stock is that it will dominate retail and make inroads into mobile hardware so the most important thing is probably that amazon's earnings report will follow the story line. the two biggest wild cards are kindle fire units and cost of goods sold which is largely shipping costs. if cogs came in higher and kindle
and they have mad to up the money supply in japan, europe, the united states. for instance, the u.s. money supply is measured by m 2 and it's growing at an 12% annualized rate. not going to bonds, not stocks. we're very long the stock market here. >> rocking the "miami vice" look today. like that. >> long the stock market, michael, but you think the economy is going to have trouble so basically you're looking that the market trading on free money. >> listen, look at japan. their debt-to-gdp it 237%. their manufacturing is falling. industrial production is falling. who cares? the market's up 23% in the last two months because shinzo abe has grabbed their central bank by the throat and said start printing and they have done it to the tune of over 100 trillion yen. >> so rick, the stat that i brought out at the very top here, this tremendous amount of money flowing into equities, second biggest ever on a weekly basis, does that tell you that we're about to see the great exodus from bonds into stocks? >> it could be the largest sucker trap in history because, you know, i look at that 20-year c
to it for the next 30 years, i still think this is one of the more dynamic success stories the united states has produced in terms of new companies in the past five years. and we should continue to look at this as such. >> that's for sure. we can wait around for the mystery news tomorrow. >> never buy a stock based on mystery news. that i would say, if you're hoping that tomorrow is going to be a pop, definitely do not invest today. because it's much more likely to be a disappointment. but that's a one-day event. not a stock company story. >> two smart guys, two differing opinions. we love it when that happens. thank you, guys. see you later. >>> we've got about 20 minutes before the closing bell sounds for the day. the dow industrials up about 14 points. up next he may have a passion for mechanical watches, but jeffrey sprecher founded one of the world's largest electronic trading exchanges. what will happen to traders on the floor of nyc if intercontinental exchange is successful in their next move. we'll talk with jeffrey sprecher exclusively. back in a moment. tdd#: 1-800-345-2550 when i'm t
population growth outside of the united states. >> tim cook says china will be their biggest market. >> they are looking at population growth numbers outside the u.s. and for those folks they are starting not necessarily with the smartphone but with a simple mobile device and that's really what they are betting on. >> what do you think, jay? >> i think you're right. look at the iphone 4 s, can you get any more incremental from the iphone 4, looked exactly like the iphone 4 and what was the iphone 4 s, the best selling iphone of all time. there's incremental improvements. doesn't mean people aren't buying it. people still appreciate the incremental improvements and to maria's point there's a huge market out there. apple has 5%, 10%, less than 10% of the overall mobile market. there's still a huge amount of room to grow. >> herb, maybe we should ask serie how to solve this. >> that was an innovation that didn't go the way it should, as was the apple maps. i got the 4s because i was trading up from an older android. if i get tired of this thing. wait for the next apple device, go over
industries. many companies raised their revenue guidance last night helping a lot of companies like united technologies and rockwell. remember, alcoa was very bullish on china. that may be helping them as well. the disc drive companies are all to the upside and seagate came out and unexpectedly raised their revenue guidance. that's helping all the companies. the two sectors on the downside are the bank stocks as well as some of the energy names. remember, banks usually sell off, maria, after the earnings season starts, not as we're going into it. that's a little bit unusual. keep an eye on that. nat gas stocks on the downside, nat gas on a multi-month low. maria, back to you. >> breaking news right now. let's get to herb greenberg on herbalife. >> reporter: a multitude of new angles on this story on herbalife, this just crossing. dow jones reporting that the securities and exchange commission has opened an inquiry into herbalife. that doesn't mean anything is necessarily going to occur, but it's an inquiry in the company. the stock on this news is down. last i checked it's down 4%, still c
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here in the united states and overseas. the stock hitting a multi-year high, and apple, you know i was going to go there. growing concerns around iphone 5 demand weighed on shares but the big drop came when it reported disappointing earnings. in the past decade there's been four other instances when apple has fallen more than 14% in a month. even without apple, maria, the nasdaq was able to eco-out a gain for a month and that's due to strength and semiconductor stocks, biotech as well as online travel. back to you. >> all right. seema, thanks so much. watching ray lewis this weekend? >> yeah. >> ravens/49ers. let's close it out here. a market is down 35 points on the dow jones industrial average. scott, we are basically steady from where we have been the last 30 minutes or so. >> here we go. the san francisco 49ers take on the baltimore ravens in the super bowl in just a couple of days. the 49ers ceo jedd york is also dealing with a super controversy brought on by one of his players. >> you have to understand that chris made a very idiotic statement. >> our brian schactman has much
Search Results 0 to 20 of about 21 (some duplicates have been removed)